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Australian Dollar Likely to Hold Post-FOMC Lows

Australian Dollar Likely to Hold Post-FOMC Lows

David Rodriguez, Head of Product
ssi_aud-usd_body_Picture_21.png, Australian Dollar Likely to Hold Post-FOMC Lows

AUDUSDForex trading crowds remain long the Australian Dollar as it tests post-FOMC meeting lows of $0.9340, and exceedingly low volatility suggests the AUDUSD may stick to a tight trading range.

Trade Implications – AUDUSD: A small majority of retail FX traders remain long AUDUSD at range lows. Until we see a bigger shift in market conditions, we see little reason to go against the crowd—56 percent of which are currently long AUDUSD.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_aud-usd_body_Picture_22.png, Australian Dollar Likely to Hold Post-FOMC Lows

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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